Former House Speaker Newt Gingrich -- the apparent front-runner for the Republican Party's presidential nomination -- has been an advocate of the "free market" approach to reducing the number of foreclosures in the country, coupled with his wish to repeal the "Dodd-Frank" bill signed into law last year.
He should probably explain how that works to the director of his Florida campaign operations, Jose Mallea, who's been fighting a foreclosure on his own home in Miami's Coral Way neighborhood for more than a year, as discovered by our sister paper to the south, Miami New Times.
Mallea, the former campaign chief for Sen. Marco Rubio, got his foreclosure notice from the Branch Banking and Trust Company in April 2010, and it's not going so hot for him.
In 2008 -- when Mallea and a woman named Helena Poleo purchased the home -- it was worth $290,000. Today, it's worth $159,000.
Miami New Times writer Tim Elfrink attempted to reach out to Mallea for comment, but was unsuccessful:
Mallea, who also owns Coral Gables' Local Craft Food & Drink, didn't respond to a message left at his restaurant or to another left with Gingrich's national press office. Poleo, reached on her cell phone, referred comment to Mallea.
Jose Mallea Foreclosure
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